Posts Tagged ‘personal property’

Are We in a De Facto Relationship?

May 9, 2016

If you are in a de facto relationship, there could be significant financial implications for you if you separate, or if your partner (or you) dies

The principal piece of legislation which deals with the division of property belonging to couples or married couples is the Property (Relationships) Act 1976 (the PRA). Substantial reforms in 2001 extended the scope  of the PRA to cover de facto relationships. But what exactly constitutes a de facto relationship in the eyes  of the law?

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Parallel Trusts: Could be the best option for you

March 29, 2016

With the growth of multiple relationships and blended families many couples are having to consider ways to ringfence assets and protect inheritances. One option is to establish parallel trusts – so you each have your own trust for your share of the assets.

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Your Will

March 21, 2016

funeral

Who pays for your funeral?

Most Wills have a clause directing the executors to pay funeral expenses as well as other usual estate liabilities. Often there is also a clause saying whether you want burial or cremation. Are these directions binding?

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Increase in Claims on Estates

March 14, 2016

familyargument

How you can help avoid a claim on your own estate.

In December 2015 the Sunday Star Times reported on a dispute amongst the members of the Ropati family in respect of their mother’s estate. The article contains the following statements:

“Figures released by the Ministry of Justice show that the number of disputes over wills rose by nearly a third in just two years … In 2012 there were 252 contested wills, and last year the figure reached 325 … Claims against estates can be brought by widows, widowers, de-facto partners, children, step-children and grandchildren … A claimant has to prove that the deceased failed to discharge a moral duty to provide for him or her … In one extreme case, two sisters battling over their mother’s $80,000 estate took their fight to the Supreme Court … The dispute between Judith Guerin and Marta Hayes lasted more than five years.”

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Get a Building Report when You’re Buying a New House

June 2, 2015

Buying Property

For many of us, buying a home is the largest purchase we will ever make. That’s why spending a few hundred dollars on a pre-purchase building report is so important as it can save you hundreds, maybe thousands, of dollars in years to come. The report is one of the final hurdles in purchasing a property, so it’s important to know the process and your rights as a purchaser and also as a vendor.

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Latest Rural eSpeaking

March 14, 2011

cow3Here we publish the March 2011 issue of Rural eSpeaking; we hope you enjoy reading it. If you would like to talk further about any rural issues, please don’t hesitate to contact us.

In this Autumn edition, you can read articles on:

· Personal Property Securities Act: Grappling with section 53 in a livestock purchase

· Leasing the Farm: Can be a practical solution

· Over the Fence: New minimum wage rates – Sharemilking Arrangements: 2011-2-12 season – Public Holidays: Easter 2011 – GST zero-rating land transactions

The next issue of Rural eSpeaking will be published in July.

Changes make it easier to appoint an enduring power of attorney

August 9, 2010

A change to the enduring power of attorney law finds the balance between protecting rights and dealing with the real-life situations of older people, Senior Citizens Minister John Carter said today.

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